SAN FRANCISCO, May 3, 2024 — Stockbridge is pleased to announce the final close of the fifth fund (the “Fund”) within its closed-end value-add series for $709 million in capital commitments. The final close, held on April 19, 2024, marks the largest capital raise in the fund series’ history.

“Despite the current challenges of both the economic and capital raising environments, we are extremely pleased with the record-breaking final close of our fifth value-add fund,” said Doug Sturiale, Portfolio Manager for the fund series. “With the fifth fund, we will continue to execute the time-tested strategies we have put into practice throughout the life of the series employing our extensive experience navigating the real estate cycle, and we are grateful for the ongoing trust our investors have within the series as well as Stockbridge.”

The Fund was launched in April 2023 and will follow investment strategies similar to predecessor funds within the series, with the pursuit of strategic value-add opportunities in today’s unique market environment. The Fund will seek to identify real estate investments that Stockbridge believes are undervalued, underutilized or otherwise not operating to full potential to capitalize on opportunities presented by the current economy. These investments present the opportunity to add value through active management strategies that include additional capital investment, leasing, recapitalization, light renovation, or development.

The first fund of the value-add series held its final close in June 2012 with $218 million in capital commitments. Since then, the fund series closed its second, third and fourth funds, for $321 million, $355 million, and $562 million, respectively. The fourth fund’s investment period ended at the beginning of the second quarter of 2023.

About Stockbridge

Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-add and opportunistic strategies. Stockbridge and its affiliates have approximately $33.4 billion of assets under management spanning all major real estate property types and certain specialty property types throughout the United States. For more information, visit http://www.stockbridge.com

SOURCE Stockbridge Capital Group

WASHINGTON, May 2, 2024 — Today, the National Venture Capital Association (NVCA) announced that Byron Deeter, Partner at Bessemer Venture Partners, will serve as the 2024-2025 Chair of the NVCA Board of Directors. 

“Byron’s energy and expertise will help drive the venture industry forward at a pivotal time for the entrepreneurial ecosystem,” said NVCA President and CEO Bobby Franklin. “His deep understanding of cloud and AI technologies, coupled with his strategic vision, will enable NVCA to effectively amplify the voice of the venture capital industry and ensure that NVCA continues to be a strong advocate for its members and the broader startup community.” 

“As we navigate the challenges and opportunities ahead, particularly in the wake of the 2024 election, I am honored to lead NVCA in strengthening and protecting the ecosystem to guarantee the continued growth of innovation,” said Byron Deeter. “NVCA’s responsibility lies in promoting entrepreneurship and fostering policies that facilitate new company creation, and I’m eager to convey this message to policymakers.” 

Deeter is preceded by Charles Hudson, Managing Partner at Precursor Ventures.

“We are grateful to Charles for his leadership and commitment to NVCA over the past year,” said Franklin. “Charles filled a unique space as both Chair of NVCA and an active board member of Venture Forward. His experience and success in the industry will continue to be both an inspiration to emerging managers and a powerful voice in telling the industry story.” 

NVCA also announced the appointment of eight new directors to its board who will serve four-year terms from 2024-2028:

• Erica Brescia, Managing Director, Redpoint Ventures
• Ric Fenton, General Partner, TCV
• Aziz Gilani, Managing Director, Mercury Fund
• Ryan Nece, Managing Partner, Next Legacy Partners
• Tom Shehab, MD, Managing Partner, Arboretum Ventures
• Chelsea Stoner, General Partner, Battery Ventures
• Jarrid Tingle, Managing Partner, Harlem Capital
• Rick Yang, Partner, Head of Technology, NEA

The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking. For more information about NVCA, please visit www.nvca.org.

SOURCE National Venture Capital Association

JUNDIAÍ, Brazil, May 2, 2024 — The Brazilian Climatech developed a revolutionary monitoring platform with AI to fight fires and reduce CO₂ emissions and is leading one of the largest environmental preservation projects in the world.

Certified as a B Corporation, umgrauemeio has just completed its 1st round of fundraising, US$ 3,6 million, started in December, which brought together Baraúna Investimentos, with US$ 1,7 million, Indicator Capital, contributing US$ 1,3 million and The Yield Lab Latam and Rural Ventures complementing the round.

With the aim of combating forest fires, reducing CO₂ emissions and improving the instant detection of smoke signals, climatech developed an integrated management and risk analysis solution, called Pantera, which uses Artificial Intelligence in a monitoring system using security cameras, high resolution, installed on top of communication towers, automatically identifying fire outbreaks in seconds, notifying system operators and accelerating firefighting protocols.

There are more than 17.5 million hectares monitored so far in Brazil, 10 million in forests and native areas, with 2.2 million hectares in the Amazon, monitored 24 hours a day. In the Pantanal biome – a major carbon store, the largest tropical wetland in the world, Natural Heritage of Humanity and Biosphere Reserve by UNESCO – the Embrace the Forest project, which is one of the largest in environmental preservation in the world, involving several entities, aims to achieve 2.5 million hectares of native forest in the region, protecting the community and 140 thousand hectares of indigenous territories in the region.

“Every fire starts and can be put out by a single foot, and it is the speed of detection that defines its proportion. Therein lies the intelligence of our solution. We do not believe in a healthy economy without well-kept forests. We are looking for partnerships to expand the Embrace the Forest project, with a special focus on the Amazon, aiming to establish financial mechanisms for urgent actions against forest fires and high CO₂ emissions,” comments Rogerio Cavalcante, founder and CEO of umgrauemeio.

With revenue of US$3,6 million in 2023 and an estimated US$ 4,6 million for 2024, umgrauemeio participated in the G20-DIA in India, at the invitation of Itamaraty and won the startup challenge promoted by the Brazil Climate Summit in New York (USA), being invited to COP28 in Dubai. More www.umgrauemeio.com.

SOURCE umgrauemeio

EnviroSpark announces $50 million in funding, spearheaded by Basalt Infrastructure Partners, to propel clean transportation infrastructure growth

ATLANTA, May 1, 2024 — National electric vehicle (EV) charging company EnviroSpark Energy Solutions (“EnviroSpark” or the “Company”) announced it has secured a $50 million investment by funds advised by Basalt Infrastructure Partners LLP (“Basalt”), a leading mid-market infrastructure equity investment firm focusing on investments in Europe and North America. This investment will fuel EnviroSpark’s mission to revolutionize the EV charging landscape, enabling the Company to rapidly expand its owned and operated network across the US, innovate its cutting-edge technologies and further enhance the accessibility and sustainability of EV infrastructure.

Building upon the momentum of its $15M funding round led by Ultra Capital in 2022, Georgia-based EnviroSpark has established itself as a key player in the EV charging market. With a broad footprint of over 8,200 charging plugs across North America, the Company is well-positioned to further advance the adoption of electric mobility.

“Securing this substantial funding milestone marks a pivotal moment for EnviroSpark,” said Aaron Luque, co-founder and CEO of the Company. “With strategic support from Basalt, we are poised to accelerate our mission of fostering sustainable transportation solutions. This investment not only fuels our expansion efforts but also reinforces our commitment to making electric mobility accessible and convenient for all.”

“As part of our strategy to invest in compelling scale-up opportunities in low carbon infrastructure, Basalt is delighted to be partnering with EnviroSpark to help drive their next phase of growth in delivering long-term sustainable EV charging solutions to customers across North America,” said Andrew Marsden, Basalt’s Head of Energy Transition. “EnviroSpark’s industry leading team is accelerating the build out of the EV-charging network across North America at this pivotal time for the clean transportation sector and we are proud to be sharing in their mission.”

EnviroSpark continues to solidify its position as a leader in the EV charging industry through strategic partnerships and innovative initiatives. The Company has recently cultivated strategic partnerships with industry leaders across various sectors, including RaceTrac, Waffle House, IHG Hotels & Resorts, Ford Dealerships, HHHunt, and Asset Living. In addition to longstanding partnerships with Tesla, Volkswagen, Volta (recently acquired by Shell), and Starwood Capital Group, the company has also partnered with the U.S. Federal Government through the General Services Administration, which underscores EnviroSpark’s dedication to driving widespread commercial and government EV adoption by addressing critical infrastructure needs.

EnviroSpark also acknowledges its recent achievements in securing National Electric Vehicle Infrastructure (NEVI) awards in Georgia and Tennessee. Selected by the Georgia Department of Transportation (GDOT), EnviroSpark will construct significant DCFC charging projects in Tifton and Metter, Georgia, alongside installations at a Waffle House in Lakeland, Tennessee, chosen by the Tennessee Department of Transportation (TDOT). These awards funded by the Federal government through the Bipartisan Infrastructure Law further exemplify EnviroSpark’s commitment to fostering innovation and sustainability in the electric vehicle infrastructure domain, driving towards a future of accessible and eco-friendly transportation solutions.

About EnviroSpark Energy Solutions
Founded in Atlanta GA by Aaron and Stephanie Luque in 2014, EnviroSpark is an industry leader in the turnkey design, installation and operation of EV charging solutions. The company was founded with two missions: to raise awareness around the benefits of electric vehicles and to build a more robust EV charging infrastructure. Responsible for more than 8,200 installations of charging plugs across North America to date, EnviroSpark addresses the pain points of property owners and drivers by enhancing EV accessibility in customer-friendly ways. Visit www.envirosparkenergy.com for more information.

About Basalt Infrastructure Partners
Basalt is an infrastructure equity investment firm focusing on investments in utilities, energy, transport and digital infrastructure in Europe and North America. Funds advised by Basalt have made over 30 infrastructure investments in Europe and North America since 2013. For more information on Basalt please visit www.basaltinfra.com

SOURCE EnviroSpark

SAN FRANCISCO, May 2, 2024 — Ballistic Ventures, the venture capital firm dedicated exclusively to funding and incubating entrepreneurs and innovations in cybersecurity, today announced that two founding partners, Kevin Mandia and Barmak Meftah, will take the stage at the annual 2024 RSA Conference (RSAC) taking place May 6-9, 2024 in San Francisco. RSAC is one of the world’s largest cybersecurity conferences and brings together industry leaders, experts and practitioners from across the globe.

Ballistic Ventures invites RSAC attendees to join and engage with the team during the following sessions: 

• Monday, May 6 from 4:35 – 4:55 pm PT: Ballistic Co-founder and Strategic Partner and Mandiant CEO Kevin Mandia will lead a keynote discussion “The State of Cybersecurity – Year in Review.” He’ll share observations after responding to hundreds of cyber intrusions in the last year including a synopsis of the apex attacker techniques, the most impactful cyber defense tips, and how cybersecurity impacts board and executive decision-making.
• Tuesday, May 7 from 10:45 – 11:35 am PT: Ballistic Co-founder and General Partner Barmak Meftah will serve as one of the three panelists for RSAC Launch Pad, where early-stage startups will pitch their ideas to the panel of venture capitalists who will offer valuable strategic advice.
• Thursday, May 9 from 9:40 – 10:30 am PT: Mandia will also lead the panel “Private Sector’s Power Play: Shaping AI and Cybersecurity Policy.” He will be joined by Lisa Kaplan, founder and CEO of Ballistic portfolio company Alethea; Sarah Barrington, PhD, AI researcher at UC Berkeley; Matthew Olson, Assistant Attorney General, National Division of Security in the US Department of Justice; and Alex Stamos, Chief Trust Officer at SentinelOne. Together, they will discuss the evolving AI and threat landscape and discuss the role of the private sector in securing our digital future.

“With an election year already plagued with disinformation, the democratization of generative AI, a surge in ransomware attacks and an ever-evolving attack surface, the 2024 RSA Conference provides an invaluable platform for our industry to collaborate and exchange insights that will drive cybersecurity forward,” said Meftah. “My fellow partners and I look forward to this event, and we encourage entrepreneurs working on innovative security solutions to get in touch.”

Earlier this week, Ballistic Ventures announced the Ballistic X Pursuit Cyber Fellows program, charting a path to narrow the industry’s talent gap and economic divides. Ballistic and Pursuit will be onsite at RSA to discuss the program with prospective corporate partners. Schedule an onsite meeting at [email protected].

The VC firm also announced today its investment in Mimic, the ransomware defense company, which emerged from stealth with $27 million, led by Ballistic Ventures. Read about the new investment and more here.

About Ballistic Ventures
Ballistic Ventures is a venture capital firm solely dedicated to early-stage cybersecurity and cyber-related companies. The partners have spent their entire careers defending against every cyber threat conceivable. Members of the firm have founded, operated, and funded over 100 successful cybersecurity firms – including Abnormal Security, AlienVault, ArcSight, Fortify, Mandiant, and Shape Security – led over 10,000 security professionals globally, and have 40+ years of experience in venture capital. The Ballistic portfolio includes Aembit, Alethea, ArmorCode, AuthMind, Codezero, Concentric AI, Mimic, Nudge Security, Oligo Security, Pangea, Perygee, Reach Security, SpecterOps, Talon (PANW) and Veza. Our experience provides entrepreneurs impactful support from people focused on the same mission. Our networks and relationships open doors for our founders. Learn more at ballisticventures.com.

SOURCE Ballistic Ventures

Funding enables Bricklayer AI to expand product development creating Autonomous AI Specialists that work alongside human experts, to run smarter, faster, more effective security operations.

MCLEAN, Va., May 2, 2024 — Bricklayer AI Inc. announces a pre-seed investment of $2.5M to advance product development of its autonomous AI security analyst solution. The pre-seed round was oversubscribed with participation from Sovereign’s Capital, Dreamit Ventures, VIPC’s Virginia Venture Partners, BlueWing Ventures, and Blu Ventures, as well as cybersecurity industry leaders. 

Bricklayer AI has built the first autonomous security platform that combines multiple AI agents to form a team of AI specialists that collaborate with their human peers to create a faster and more efficient cybersecurity team. By leveraging the same model that makes human teams powerful, Bricklayer Specialists, tools, and procedures become integrated into the existing organizations’ people, process, and technology in a simple and intuitive way. 

“Bricklayer AI, as part of its customer work, was used by enterprise customers and MSSPs alike and received overwhelmingly positive feedback that AI Analysts in the cybersecurity domain would lead to dramatic improvements in security operations. This, coupled with Adam’s [Bricklayer AI CEO] expertise in cybersecurity and his experience building enterprise software companies and prior success at ThreatConnect, was what excited us to invest” said Tanuj Gulati, Founder and former CTO of Securonix, Strategic Advisor at Dreamit Ventures.

Bricklayer is not another co-pilot. The product has been focused on an autonomous agent vision from the beginning. Using Bricklayer AI, human SOC teams select AI Specialists, equip them with AI tools, create tasks and run procedures – and automate these processes at scale. While Bricklayer AI can serve in a supporting role, with the human security analyst in the driver’s seat, the massive operational benefit comes through automating workflows that the analyst is responsible for, then scaling laterally to massively multiply the security workforce. 

Bricklayer AI’s Founder and CEO, Adam Vincent, is a proven cybersecurity expert and previous founder of ThreatConnect, a company specializing in intelligence and automation to produce the industry’s first intelligence driven security operations platform. Bricklayer is the next evolution of automation and intelligence. 

“There are simply too few cybersecurity professionals to meet the demand of today’s threats. Human teams have an insurmountable challenge by themselves. Adding AI analysts that are purposefully trained to automate time-consuming tasks, is the best way to solve for the hiring dilemma. Teams can grow – and become more effective – on day 1 of implementing Bricklayer.,” stated Adam Vincent, Bricklayer AI Founder and CEO.

Unlike most technology platforms that require customers to map their people and processes to the particular technology they purchase, Bricklayer augments the existing human team across any existing processes and technologies. Bricklayer AI accomplishes this through a proprietary approach to assimilating public and customer knowledge, integrated autonomous agent planning and execution, and its ability to connect with existing enterprise software via out-of-the-box and customer-created plugins.

Bricklayer AI will use the funds to further product development. Interested organizations can request early access here. 

About Bricklayer AI

Bricklayer AI is the first AI cybersecurity solution that enables autonomous AI specialists to work alongside human experts, to run a smarter, faster, and more effective security operations team. With Bricklayer AI, multiple independent AIs collaborate and use AI tools to accomplish complex cybersecurity procedures, all controlled using natural language. AI Security Analysts, AI Threat Intelligence Analysts, and AI Incident Responders add speed, augment and accelerate security teams’ capabilities in order to stay ahead of today’s most sophisticated AI-enabled threats. Learn more at bricklayer.ai.

SOURCE Bricklayer AI

ATLANTA, May 2, 2024 — Danti, an AI company building a revolutionary AI Data Analyst who can answer questions about any place and time – instantly, today announced it has raised $5M in a Seed round led by Shield Capital. Also participating are existing investors Tech Square Ventures, Humba Ventures and Leo Polovets, Space.VC, and Radius Capital.

“There is a massive data overload, distribution, and knowledge gap problem that companies and governments alike are facing,” said Danti founder and CEO Jesse Kallman. “We founded Danti to help users make sense of that data. By leveraging AI and natural language processing, users of any skill level can now connect up large volumes of information, across systems, types and formats to get complete answers in a matter of seconds. We provide users with an AI Data Analyst at their fingertips.”

“Harnessing data across multiple sources is a challenge for most industries,” said David Rothzeid, Vice President of Shield Capital. “Danti’s LLMs enable a new kind of search engine that has the potential to democratize the world’s massive amounts of data. Jesse and Martice are solving a big problem.”

Danti has now deployed its technology across government customers to support them in their missions. Users can access data and analysis across both government and commercial sources including satellite imagery, computer vision-based analytics, reports, news, social media, shipping data, global events, and active fires.

The company has quickly gained traction with early customers including the United States Space Force who uses the company’s product to enable Guardians and Airman to easily search, discover and share data sets coming in from across the planet. Danti’s technology is supporting Space Systems Command’s TacSRT effort to ongoing events and operations around the world.

“Our mission is to be the connective tissue between sensor data, deep analytic reporting, and the end consumers of both general and enterprise markets,” said Martice Nicks, Co-founder and CTO. “Our approach connects our team’s long history in building and delivering enterprise data systems for commercial and U.S. federal customers and applies that subject matter expertise to developing an AI data analyst that can take questions and interpret many different data sources into context bound, semantically relevant answers.”

Danti’s team will be showcasing its technology at the upcoming GEOINT Symposium May 5-8, 2024 in Kissimmee, Florida. To learn more, visit Danti.ai.

About Danti
Danti is the first Earth data search engine to enable expert and non-expert users to pose simple questions about physical places on our planet to access the breadth of information generated daily by satellites, drones, analytics firms, social media, news and more. By incorporating the latest AI tools and decades of experience in different data types, Danti provides highly relevant information instantly. The team brings together expertise from government, enterprise data systems, and leaders from across the earth observation market. For more information, visit Danti.ai.

About Shield Capital
Shield Capital is a venture capital firm investing in early-stage companies building technologies that matter in artificial intelligence, autonomy, cybersecurity, investors, and space. SHIELD’s veteran team of founders, investors, and national security leaders is mission-focused in support of entrepreneurs addressing the convergence of commercial industry and national security. Mission Matters at SHIELD.
Learn more at www.shieldcap.com

SOURCE Danti

New funding to fuel global expansion and a pioneering approach to preemptive, action-based cybersecurity

PALO ALTO, Calif., May 2, 2024 — StrongDM, the Zero Trust privileged access company, today announced the closure of a $34 million Series C funding round led by Anchor Capital, with participation from new investors Capital One Ventures, Cisco Investments, Frontline Ventures, and Singtel Innov8, as well as existing investors including GV, Sequoia Capital, and True Ventures. This investment underscores StrongDM’s commitment to reshaping enterprise security with its revolutionary Zero Trust privileged access management (PAM) solution. The Series C funding round brings StrongDM’s total funding to $96 million.

Revolutionizing PAM

StrongDM introduces a next-generation PAM solution that shifts from traditional role- or attribute-based security models to one that emphasizes continuous, fine-grained, and context-aware policy enforcement. This approach scrutinizes each user action and context in real-time, enabling immediate blocking or additional verification for activities that pose security risks. By focusing on preemptive measures rather than reactive responses, StrongDM aims to halt breaches as they are attempted, setting a new standard in cybersecurity.

Global Expansion and Innovation

With the new funds, StrongDM will expand its operations into the Europe, Middle East, and Africa (EMEA) and Asia-Pacific (APAC) regions, addressing the growing demand for modern security solutions. The company is also establishing an engineering center of excellence in Poland, bringing its innovations closer to global customers.

A Word from Leadership

Tim Prendergast, chief executive officer of StrongDM, emphasizes the transformative nature of its Zero Trust PAM solution: “Our Zero Trust approach extends beyond initial access, offering continuous protection throughout the entire session. This isn’t just about reducing identification times; it’s about preventing breaches before they even happen. We’re setting new standards that legacy access management providers have failed to achieve over the past decade.”

Enhancing Enterprise Operations

StrongDM’s solution integrates security directly into operational workflows, enhancing agility and productivity without sacrificing protection. Amol Kabe, chief product officer of StrongDM, said: “StrongDM provides a way for users to create and apply policies that govern authorization in real time, which simplifies the process of proving regulatory compliance. By integrating comprehensive audit trails, we ensure that every action is recorded with precision. This provides unprecedented oversight and enforcement of security policies, creating an environment that is simple, agile, and secure.”

Kabe adds, “StrongDM can also trigger policy-based MFA or administrator-defined workflows natively or in Slack or ServiceNow to implement multi-party authorization for risky actions.”

Upcoming Features

In the coming months, StrongDM will roll out advanced policy-based control features that further enhance security for critical infrastructure. These include micro-authorizations and contextual enforcement capabilities designed to meet the specific needs of CISOs and security teams.

About StrongDM

StrongDM is at the forefront of cybersecurity, specializing in Zero Trust Privileged Access Management (PAM). Our innovative solutions focus on continuous, policy-based controls that leverage actions and context to enhance enterprise security. StrongDM’s technology scrutinizes each interaction in real time, preventing breaches before they occur and ensuring secure, frustration-free access across all platforms.

Supported by leading investors, including GV, Sequoia Capital, True Ventures, and Anchor Capital, StrongDM operates across North America, Europe, and Asia-Pacific, dedicated to setting new standards in cybersecurity and providing top-tier protection for today’s digital enterprises.

For more information, visit the StrongDM website.

SOURCE strongDM

SONOMA, Calif., May 2, 2024 — Local search, the process of finding businesses, services, and things to do within a specific geographic area via search engines and online maps, is undergoing a transformative shift. While traditional local searches often yield an overwhelming array of options and reviews, studies show that recommendations from friends remain the most trusted and effective way to find local services and establishments.

Enter Beacon, a groundbreaking startup that is harnessing the power of generative AI to provide personalized, friend-like recommendations for local queries. By integrating advanced AI technologies, Beacon offers users finely-tuned, conversational answers about where to eat, shop, and explore, akin to getting a tip from a local friend.

“Getting answers about where to eat is much more efficient and effective than sifting through endless search results,” states Juan Soberanis, co-founder of Beacon. “But this is just the beginning. We’re entering an exciting new era where local answers will be the launching pad for personal agents that can automatically complete tasks such as ordering food, reserving tables, and booking accommodations.”

Beacon is readily accessible across multiple platforms, including a web interface, and mobile applications for iOS and Android. When users interact with the app, they receive AI-driven responses that not only suggest places but also visually locate them on a map. Users can then delve into more detailed information for any selected place, such as location, directions, operating hours, and contact details.

Beacon is committed to enhancing its AI-driven platform through community engagement and user contributions. In the near future, the company plans to foster a community where users can participate by submitting place answers, ratings, reviews, and edits. This collective input will not only enrich the database but also refine the AI’s accuracy and responsiveness, ensuring that recommendations are continually improved and personalized.

About Beacon

Beacon is a location-aware personal agent startup with a mission to automate tasks currently done manually through local search and traditional online services. Visit Beacon at beaconmaps.ai for more information.

Media Contact:

Juan Soberanis
919-747-4551
[email protected]

SOURCE Beacon